NOTICE: THIS DOCUMENT CONTAINS IMPORTANT AGREEMENTS, DISCLOSURES, TERMS OF USE, WAIVERS OF LIABILITY AND OTHER PROVISIONS WHICH ARE PART OF YOUR ACCOUNT APPLICATION AND AGREEMENT.
A. This website is operated by PennTrade, an online trading operation that is part of Pennaluna & Company Inc., a NASD broker-dealer (hereinafter the two will generally be referred to simply as "PennTrade" and all such references will be joint, meaning Pennaluna & Company as well as PennTrade).
B. You use this site with the understanding that any information provided here does not constitute legal, accounting, investment or other professional advice and is not an offer or solicitation of an offer to sell or buy specific securities. This website has been compiled in good faith by PennTrade and information herein is obtained from sources considered to be reliable, but is not guaranteed to be complete or accurate, and no representation or guarantee is made as to the completeness or accuracy of the information the site contains. PennTrade and any third party information provider(s) accept no responsibility or liability for any damages incurred by visitors to the site as a result of incorrect, delayed or omitted information arising from any cause whatsoever, including error or negligence, except their own willful tortious misconduct or gross negligence. PennTrade reserves the right to add, modify or delete any information at any time.
C. Any links in this site that allow you to leave the site are provided as a service to you and the linked sites are not under the control of PennTrade, except in the single instance of the Pennaluna & Company website. Other than that single site, PennTrade has no control over and is not responsible for the contents of any linked site or any links contained in a linked site and the inclusion of any link on this site does not imply endorsement by PennTrade of the linked-to site.
D. ALL INFORMATION ON THE SITE, INCLUDING INFORMATION THAT IS LINKED TO FROM THIS SITE, IS PROVIDED "AS IS" WITHOUT WARRANTY OF ANY KIND. BECAUSE OF THE POSSIBILITY OF HUMAN AND MECHANICAL ERRORS AS WELL AS OTHER FACTORS, PENNTRADE AND THIRD PARTY INFORMATION PROVIDERS ARE NOT RESPONSIBLE FOR ANY ERRORS OR OMISSIONS IN THE INFORMATION AND MAKE NO REPRESENTATIONS OF AND HEREBY DISCLAIM ALL EXPRESS, IMPLIED AND STATUTORY WARRANTIES OF ANY KIND TO USERS, INCLUDING ANY WARRANTIES OF ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE. UNLESS DUE TO THEIR OWN WILLFUL TORTIOUS MISCONDUCT OR GROSS NEGLIGENCE, PENNTRADE AND ITS EMPLOYEES, OFFICERS, DIRECTORS, AGENTS AND AFFILIATES SHALL HAVE NO LIABILITY IN TORT, CONTRACT, OR OTHERWISE (AND AS PERMITTED BY LAW, PRODUCT LIABILITY) TO YOU AND/OR ANY THIRD PARTY, AND SHALL UNDER NO CIRCUMSTANCES BE LIABLE TO YOU AND/OR ANY THIRD PARTY FOR ANY LOST PROFITS OR LOST OPPORTUNITY, INDIRECT, SPECIAL, CONSEQUENTIAL, INCIDENTAL, OR PUNITIVE DAMAGES WHATSOEVER, EVEN IF PENNTRADE HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.
E. With respect to trading at PennTrade, we advise you and you acknowledge your understanding and agreement that response times may vary significantly due to a variety of factors that include trading volumes, market conditions, system performance and other factors and that delays may therefore sometimes be encountered.
F. By your use of this site, you agree to hold harmless PennTrade and its affiliates and officers, directors, employees and agents from any and all claims for losses of any kind arising from your use in any way, including by way of illustration and not limitation lost profits, lost opportunities, indirect, special, incidental, consequential, punitive, or other damages arising from any cause whatsoever, except when arising from their own willful tortious misconduct or gross negligence.
G. To access disclosure pursuant to SEC Rule 11Ac1-6, click here (http://secure.penntrade.com/orderflow.html).
H. Non-directed orders will be executed in such a manner as to achieve the best available price consistent with speed and market maker financial and system responsibility, and without order flow payment being a determinant as to where orders are routed.
Pennaluna & Company Privacy Policy (June 1, 2001)
Pennaluna & Company has been protecting customer privacy for many years. This will tell you more about our commitment to your privacy, in accordance with new SEC Regulation S-P.
We don’t ever sell customer information
Pennaluna & Company does not ever sell any type of personal customer information. This includes nonpublic personal information.
Information we may have
To help us give you good service and in order to fulfill obligations imposed on us by law or regulation, we may receive information about you from various sources, including, for example:
How we may share it
Pennaluna may share information it has about you only as lawfully permitted or required for legal or routine business reasons, including maintaining or servicing your account. For instance, we may share information: with regulatory and law enforcement authorities; pursuant to legal process or to protect against fraud; with our securities clearing firm in order to service your account and provide products and services to you; and with anyone if you consent to that sharing, for instance if you want us to release data to a possible lender.
Protection
We maintain physical, electronic and procedural safeguards to help keep information protected from unauthorized access. We compile only the minimum information reasonably necessary for us to meet our obligations to customers and to satisfy requirements imposed by the government. We are a small firm with low employee turnover where everyone knows each other well and works near one another; this helps us to monitor proper use of data, detect misuse, and make sure information is accessed only by those who need it to provide products or services to you.
Who our policy covers
This policy applies to consumers who are customers or former customers of Pennaluna & Company.
Anti-Money Laundering Requirements
The USA PATRIOT Act
The USA PATRIOT Act, signed by President Bush last year, is designed to detect, deter, and punish terrorists in the United States and abroad. The Act imposes new anti-money laundering requirements on brokerage firms and financial institutions. By April 24, 2002, all brokerage firms were required to have new, comprehensive anti-money laundering programs.
To help you understand these efforts, we want to provide you with some information about money laundering and our steps to implement the USA PATRIOT Act.
What is money laundering?
Money laundering is the process of disguising illegally obtained money so that the funds appear to come from legitimate sources or activities. Money laundering occurs in connection with a wide variety of crimes, including illegal arms sales, drug trafficking, robbery, fraud, racketeering, and terrorism.
How big is the problem and why is it important?
The use of the U.S. financial system by criminals to facilitate terrorism or other crimes could well taint our financial markets. According to the U.S. State Department, one recent estimate puts the amount of worldwide money laundering activity at $1 trillion a year.
What are we required to do to eliminate money laundering?
Under new rules required by the USA PATRIOT Act, our anti-money laundering program must designate a special compliance officer, set up employee training, conduct independent audits, and establish policies and procedures to detect and report suspicious transactions and ensure compliance with the new laws.
As part of our required program, we may ask you to provide various identification documents or other information. Until you provide the information or documents we need, we may not be able to open an account or effect any transactions for you.
We thank you for your patience and hope that you will support us in our efforts to deny terrorist groups access to America's financial system.
(Produced for members by NASD)
As a NASD broker-dealer, Pennaluna & Company maintains a business continuity plan designed to help us keep operating during emergencies. Parts of our plan rely on the continuing operation of our clearing corporation, National Financial Services, LLC (NFS), which clears trades and maintains your cash and securities. Information about NFS's plan will also be provided to you.
Pennaluna's plan addresses key areas of concern, including these:
Possible events that might disrupt our business vary in nature and extent. They might affect only Pennaluna itself, or only the building where we are located, or the entire Coeur d'Alene, Idaho, business district where our main office is situated, or the entire region. We plan to continue to conduct our securities business during all such potential disruptions. To address possible problems, we have entered an agreement with another organization in a metropolitan area about 30 miles from our main office to supply us with a physical location for our employees and the key technology and trading infrastructure needed to continue operations, if ever required.
We intend to update our plan as conditions warrant. Changes will be posted at this website. Information on changes may also be obtained by submitting a written request to the firm.